• The IEA and its 32 member countries launched a record 400-million-barrel emergency oil release after Iran’s Strait of Hormuz blockade.
  • The U.S. is contributing 172 million barrels, and SPR inventories are now falling at a record pace.
  • Standard Chartered warns the rapid SPR drawdowns and other emergency measures are only temporary fixes, with physical oil market tightness likely to return once reserve releases end.

https://oilprice.com/Energy/Crude-Oil/StanChart-Says-Record-SPR-Withdrawals-Are-Tightening-US-Oil-Buffers.html